Avoid a New Year debt hangover

The cost of Christmas can add up – presents, extra spending on food, on top of higher gas and electricity bills – can put finances under extra pressure come the New Year.

Here are some tips to help you start 2019 with your finances in order:

Set a budget and stick to it – this is the best way to manage debt but only one in four of us do it

Keep track of your spending – paying with bank or credit cards and using ‘contactless’ it is harder to keep track of your spending. Take a receipt and make a note of your purchases so you can see where your money has gone

Continue to pay your bills – like rent, council tax, gas and electricity because falling behind will make it harder to catch up and may mean additional charges

Cut costs in other areas – you could save on energy bills by switching energy providers